Answer: Cost of Gods Sold
Explanation:
The Cost of Goods sold in the income statement is calculated thus;
= Opening inventory + Purchases - Closing stock
Looking at the formula above, one can see that closing stock reduces the Cost of Goods sold. If inventory is therefore overstated, it would reduce Cost of Goods sold more than it should which would result in the Cost of Goods sold being understated.
Answer:
50.16%
Explanation:
The percentage increase in sales from the preceding year to the current year can be calculated as:
where:
is the sale for the current year
is the sale for the preceding year
From the sales data of this problem, we have:
(current year)
(preceding year)
Therefore, the percentage increase in sales is:
Answer:
$6.30
Explanation:
For computing the unit price, first we have to determine the difference in cost which is shown below:
= $150,000 - $120,000
= $30,000
Now the break even price would be
= Variable cost + cost difference
= $600,000 + $30,000
= $630,000
So, the unit price would be
= Break even price ÷ number of unit produced
= $630,000 ÷ 100,000 units
= $6.30
<u>Calculation of Hulkster's 2018 return on shareholders' equity:</u>
Return on shareholders' equity can be calculated with the help of following formula:
Return on shareholders' equity= Net Income / Average shareholders' equity
Following information is available:
Net Income for the year 2018 =$41,500
Shareholders' equity 2018 = $252,000
Shareholders' equity 2017 = $231,000
Average shareholders' equity = (252000+231000) /2 = $241,500
Return on shareholders' equity for 2018 = 41500/241500 = 0.1718 =17.18%
Hence, Hulkster's 2018 return on shareholders' equity is <u>17.18%</u>
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